Weekly Real Estate Update- Feb 19, 2017

 

Sold Last Week in Tehachapi, CA: Feb 12- feb 20

Address Area Bed Bath Sq Ft Lot Sz DOM Sell
21276 White Pine Dr #76 Golden Hills West 3 2 1468 0.13 172 $205,000
23921 Basin Harbor Ct Bear Valley Springs 3 2 2141 0.37 110 $279,000
26780 Columbia Way Bear Valley Springs 3 2 2095 1.41 198 $345,000

Based on information from the Tehachapi Area Association of REALTORS® (alternatively, from the Tehachapi MLS). All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.


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Preparing to Buy Real Estate in Tehachapi

Preparing to
Buy your Tehachapi Home

Choose an agent you know you can trust.

Finding a trusted partner is absolutely a vital step to purchasing a home. Choosing a real estate professional to help you with each step of the process can help relieve  stress and worry. An Associated Real Estate agent will take the time to understand your goals and will be ready and able to guide you through the home buying process.

Talk to mortgage brokers.

Many first-time home buyers don’t take the time to get prequalified. They also often don’t take the time to shop around to find the best mortgage for their particular situation. It’s important to ask plenty of questions and make sure you understand the home loan process completely. You may discover that improving your credit could help you to afford your dream home in Tehachapi. Talking to a professional to prepare you for the finance process will also help you know what you can afford to offer when you do find that perfect home.

Be ready to move.

This is especially true in markets with a low inventory of homes for sale. It’s very common for home buyers to miss out on the first home they wish to purchase because they don’t act quickly enough. By the time they’ve made their decision, they may find that someone else has already purchased the house.

Make a good offer.

Remember that your offer is very unlikely to be the only one on the table. Do what you can to ensure it’s appealing to a seller.

Factor maintenance and repair costs into your buying budget.

Even brand-new homes will require some work. Don’t leave yourself short and let your home deteriorate.

Think ahead.

It’s easy to get wrapped up in your present needs, but you should also think about reselling the home before you buy. The average first-time buyer expects to stay in a home for around 10 years, according to the National Association of REALTORS®’ 2013 Profile of Home Buyers and Sellers.

Develop your home/neighborhood wish list.

Prioritize these items from most important to least.

Select where you want to live.

Compile a list of three or four neighborhoods you’d like to live in, taking into account nearby schools, recreational facilities, area expansion plans, and safety. Get to know each area of Tehachapi and what it has to offer you. You may like the connivance of being in town or want more outdoor space and prefer Golden Hills. If amenities or Equestrian facilities is what you are looking for you might choose Bear Valley. You should also ask about Home Owners association fees and CC&R’s for each area to be sure it will fit your lifestyle and budget.

 

Weekly Real Estate Update- Feb 12, 2017

Sold Last Week in Tehachapi, CA: Feb 6- Feb 12

Address Area Bed Bath Sq Ft Lot Sz DOM Sell $
122 W West E Street St Tehachapi City 2 1 624 0.17 20 $90,000
324 E F St Tehachapi City 3 2 1637 0.17 71 $125,000
200 Meadowbrook Ct Tehachapi City 4 2 1155 0.15 25 $160,000
207 W A St Tehachapi City 2 1 1239 0.18 33 $171,500
308 W E St Tehachapi City 3 2 1500 0.18 32 $205,000
27650 Buckpasser Dr Stallion Springs 3 2 2348 0.32 92 $250,000
28121 Braeburn Pl Stallion Springs 3 3 2221 0.41 127 $265,000
812 Mulberry St Tehachapi City 3 2 2100 0.17 82 $280,000

Based on information from the Tehachapi Area Association of REALTORS® (alternatively, from the Tehachapi MLS). All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.


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Before Putting Your Tehachapi Home Up for Sale

 

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Before Putting Your Tehachapi Home Up for Sale

Here are a few items to take care of before listing your home in Tehachapi. These can make the sale process quicker and easier in the long run.

Consider a pre-sale home inspection. An inspector will be able to give you a good indication of the trouble areas that will stand out to potential buyers. Consider making repairs so potential buyers see the property in its best possible condition.

Other Pre -Sale Inspections.  In some areas of Tehachapi, specifically Golden Hills, Stallion Springs, Bear Valley Springs and all of the unincorporated county areas, Septic Systems and Well Systems are very common.  If your home has one of these systems, ask your Associated Real Estate Agent if it would be a good idea to have those systems inspected prior to listing.  This can save time during escrow and help to alleviate buyers concerns while listed, thereby helping to increase exposure and the likeliness of getting a full price offer.  Wood Destroying Pest Inspections are also common in our area.  If you have any sign of wood or water damage, your agent may be able to advise looking into it and could refer you to a Certified Inspector.

Organize and cleanPare down clutter and pack up your least-used items, such as large blenders and other kitchen tools, out-of-season clothes, toys, and seasonal items. Store items off-site or in boxes neatly arranged in the garage or storage area. Clean the windows, carpets, walls, lighting fixtures, and baseboards to make the house shine. Clearing away clutter can help a buyer see the homes potential.

Get replacement estimates. Do you have big-ticket items that will need to be replaced soon? Find out how much it will cost to repair an older roof or replace worn carpeting, even if you don’t plan to do so.  The figures will help buyers determine if they can afford the home, and they’ll be handy when negotiations begin.

Locate warranties. Gather up the warranties, guarantees, and user manuals for the water heater, washer/dryer, dishwasher, and any other items that will remain with the house. It may seem like this task can be left until closing, but you don’t want lost paperwork or last-minute scrambling to cause the deal to fall through.

Spruce up the curb appeal. Walk out to the front of your home, close your eyes, and pretend you’re a prospective buyer seeing the property for the first time. Is the yard clear of seasonal weeds and does the landscape look nicely manicured ? Is there pealing paint on the eaves or a crack in the side walk? As you approach the front door, what is your impression of the property? Dose the property look well kept? Is the address clearly visible? A buyer makes their first impression from the street and even small improvements in curb appeal can make a big difference.

Weekly Real Estate Update – Feb 5, 2017

Sold Last Week in Tehachapi, CA: Jan 30 – Feb 5

Area Display Address Bedrooms Bathrooms Square Footage Acres DOM Selling Price
Alpine Forest 18251 Arosa Rd, Tehachapi, CA 93561-8431 3 2 1264 5 $186,000
Alpine Forest 18451 Arosa Rd, Tehachapi, CA 93561 3 2 1324 0.27 5 $189,900
Bear Valley Springs 41 Village Ln, Tehachapi, CA 93561-9667 2 2 1224 76 $94,000
Bear Valley Springs 29641 Greenwater Dr, Tehachapi, CA 93561-8559 3 2 1925 1.86 76 $320,000
Bear Valley Springs 26940 El Camino Dr, Tehachapi, CA 93561-0 3 2 1120 18 47 $130,000
Oak Knolls 19904 Dovetail Ct Ct, Tehachapi, CA 93561-8042 3 3 3660 2.41 134 $399,900
Stallion Springs 28001 Hialeah Dr, Tehachapi, CA 93561 3 2 1951 0.5 27 $260,000
Tehachapi City 1013 Thoma Ln, Tehachapi, CA 93561-9493 3 2 1517 0.19 107 $256,000

Based on information from the Tehachapi Area Association of REALTORS® (alternatively, from the Tehachapi MLS). All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.


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Understand Agency Relationships

It’s important to understand what legal responsibilities your real estate salesperson has to you and to other parties in the transaction. Ask what type of agency relationship your agent has with you:

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Seller’s representative (also known as a listing agent or seller’s agent)

A seller’s agent is hired by and represents the seller. All fiduciary duties are owed to the seller. The agency relationship usually is created by a listing contract.

Buyer’s representative (also known as a buyer’s agent)

A buyer’s agent is hired by prospective buyers to represent them in a real estate transaction. The buyer’s rep works in the buyer’s best interest throughout the transaction and owes fiduciary duties to the buyer. The buyer can pay the licensee directly through a negotiated fee, or the buyer’s rep may be paid by the seller or through a commission split with the seller’s agent.

In Tehachapi, as in most of California, a buyer typically wont pay anything to their agent because the buyers agent will generally be offered a share of the commission paid by the seller. This gives buyers a way to have someone representing their best interests searching for homes for sale and negotiating for a Real Estate purchase.

Subagent

A subagent owes the same fiduciary duties to the agent’s customer as the agent does. Subagency usually arises when a cooperating sales associate from another brokerage, who is not the buyer’s agent, shows property to a buyer. In such a case, the subagent works with the buyer as a customer but owes fiduciary duties to the listing broker and the seller. Although a subagent cannot assist the buyer in any way that would be detrimental to the seller, a buyer-customer can expect to be treated honestly by the subagent. It is important that subagents fully explain their duties to buyers.

Disclosed dual agent

Dual agency is a relationship in which the brokerage firm represents both the buyer and the seller in the same real estate transaction. Dual agency relationships do not carry with them all of the traditional fiduciary duties to clients. Instead, dual agents owe limited fiduciary duties. Because of the potential for conflicts of interest in a dual-agency relationship, it’s vital that all parties give their informed consent. In many states, this consent must be in writing. Disclosed dual agency, in which both the buyer and the seller are told that the agent is representing both of them, is legal in most states.

Designated agent (also called appointed agent)

This is a brokerage practice that allows the managing broker to designate which licensees in the brokerage will act as an agent of the seller and which will act as an agent of the buyer. Designated agency avoids the problem of creating a dual-agency relationship for licensees at the brokerage. The designated agents give their clients full representation, with all of the attendant fiduciary duties. The broker still has the responsibility of supervising both groups of licensees.

Nonagency relationship (called, among other things, a transaction broker or facilitator)

Some states permit a real estate licensee to have a type of nonagency relationship with a consumer. These relationships vary considerably from state to state, both as to the duties owed to the consumer and the name used to describe them. Very generally, the duties owed to the consumer in a nonagency relationship are less than the complete, traditional fiduciary duties of an agency relationship.


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5 Factors That Decide Your Credit Score

Credit scores range between 200 and 800, with scores above 620 considered desirable for obtaining a mortgage. The following factors affect your score:

creditscore

1. Your payment history. Did you pay your credit card obligations on time? If they were late, then how late? Bankruptcy filing, liens, and collection activity also impact your history.

2. How much you owe. If you owe a great deal of money on numerous accounts, it can indicate that you are overextended. However, it’s a good thing if you have a good proportion of balances to total credit limits.

3. The length of your credit history. In general, the longer you have had accounts opened, the better. The average consumer’s oldest obligation is 14 years old, indicating that he or she has been managing credit for some time, according to Fair Isaac Corp., and only one in 20 consumers have credit histories shorter than 2 years.

4. How much new credit you have. New credit, either installment payments or new credit cards, are considered more risky, even if you pay them promptly.

5. The types of credit you use. Generally, it’s desirable to have more than one type of credit — installment loans, credit cards, and a mortgage, for example.

For more on evaluating and understanding your credit score, visit www.myfico.com.

Go directly to the credit reporting bureaus to check your credit report for free:
www.Expirian.com
www.TransUnion.com
www.Equifax.com


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